UK pig prices - week ended 21 March 2015
The EU-spec GB SPP in the week ended 21 March averaged 132.64p per kg, a fall of only 0.01p on the week.
This could indicate that the bottom of the market price has been reached for now, as this is the second week of minimal decreases. The SPP does, however, remain over 30p down on the DAPP this time last year as a result of almost ten months of continuous decreases. This stabilisation, as also seen on the continent, comes even as UK supply continues to run ahead of last year, according to AHDB/EBLEX estimates. This balanced market suggests that there are some signs of improving domestic demand going into the spring. Carcase weights, as a factor of overall production, continued to fall, reaching 82.5kg a head, the lowest average this year. The probe measurement also fell to 11.1mm in this week, the lowest since May 2014, suggesting that feeding is maintaining condition rather than fat, helping pigs to hit market specifications.
At 136.61p per kg, the EU-spec GB APP for the week ended 14 March was up 0.36p on the week, the largest weekly increase since May last year. This widened the difference between the APP and the SPP for the same time period to almost 4p.
For the week ended 21 March, average prices for both 30kg and 7kg weaner were up 8p a head on the previous week, despite some higher numbers traded as contracts coincided. 7kg weaners averaged £33.12 per head and 30kg weaners moved up to £44.67. While only a small increase, this does reflect the easing in price falls seen in finished pig prices in the last few weeks, but prices remain £8 and £12 down, respectively, on the year, as the timing of any turn around in the finished pig market remains unclear.